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3.—(1) A relevant person must use functional compatible software to comply with the following requirements (“the digital requirements”)—
(a)to record digital records under Part 2;
(b)to preserve those digital records until the end of the relevant day as required by section 12B(1A)(b) of TMA 1970(1);
(c)to provide quarterly updates under Part 3; and
(d)to provide an end of period statement(2) under Part 4.
(2) Where a relevant person has received notice to file for a year of assessment under section 8 of TMA 1970 and is required to file an end of period statement for that tax year(3), that person may use functional compatible software to comply with the duty to file the things mentioned in subsection (1AB)(a) for that year(4).
(3) “Functional compatible software” means a software program or set of compatible software programs which comply with conditions set out in a software notice, where such notice has been made, and the functions of which include—
(a)recording and preserving digital records in a digital form;
(b)providing to HMRC quarterly updates and end of period statements and by using the API platform; and
(c)receiving information from HMRC using the API platform in relation to a relevant person’s compliance with obligations under these Regulations.
(4) “Software notice” means a general direction given by the Commissioners which is stated to be given further to this regulation and specifies conditions with which functional compatible software must comply.
(5) A software notice may specify different conditions for different cases or purposes.
(6) “API platform” means the application programming interface that enables electronic communication with HMRC, as specified by notice made by the Commissioners.
Section 12B was inserted by paragraph 3 of Schedule 19 to the Finance Act 1994 (c. 9). Section 12B(1A) was inserted by paragraphs 1 and 14 of Schedule 14 to the Finance (No. 2) Act 2017.
For the meaning of “end of period statement”, see paragraph 8 of Schedule A1.
Paragraph 8(6)(b) of Schedule A1 gives the meaning of an end of period statement ‘for’ a tax year.
Section 8 was substituted by section 90(1) and (5) of Finance Act 1990 (c. 29). Section 8(1AB) was inserted by paragraphs 1 and 3 of Schedule 14 to the Finance (No. 2) Act 2017. See also section 8(1AC)(b)(ii) of TMA 1970 and paragraph 9 of Schedule A1.
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